Accounting General Journal Entries
Question And Answer
Question No 3 of Journal Entries.
June 1 Purchased furniture on account Rs:18,000
June 7 Purchased machine on account Rs:50,000 from
Fayaz.
June 10
Purchased equipment on credit Rs:10,000 from kashif.
June 12 Paid
cash Rs: 50,000 to Fayaz.
June 15 Paid
cash Rs: 10,000 to kashif.
June 24
Purchased merchandise on credit Rs:40,000 from Asad.
June 29 Paid
cash Rs: 40,000 to Asad.
Required:
Prepare entries in standard form of General Journal.
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Journal Entries
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Date
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Particular
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P/R
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Debit
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Credit
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Jun-01
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Furniture
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18,000
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Account payable
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18,000
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(To record purchased furniture on
account)
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Jun-07
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Machine
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50,000
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Account payable(Fayaz)
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50,000
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(To record purchased machine on account)
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Jun-10
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Equipment
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10,000
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Account payable(Kashif)
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10,000
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(To record purchased equipment on
account)
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Jun-12
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Account payable(Fayaz)
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50,000
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Cash
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50,000
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(To record account payable )
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Jun-15
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Account payable(Kashif)
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10,000
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Cash
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10,000
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(To record account payable )
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Jun-24
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Purchased
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40,000
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Account payable(Asad)
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40,000
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(To record purchased merchandise )
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Jun-29
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Account payable(Asad)
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40,000
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Cash
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40,000
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(To record account payable )
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